The option is only available when purchasing items on a smartphone, but connects purchases from an accepted retailer to your Venmo account.

This is how it works: Users visit the retailers they want to on their smartphone's internet browser or through the retailers' mobile applications and select the option to pay with Venmo upon checkout. Once users enter their Venmo account information and pay for their items, their purchases show up in the Venmo application.

This option had previously been available at a small number of retailers. Before, Venmo was most commonly used to conveniently send money to friends who are connected on the app.

Bill Ready, the CEO of PayPal, said the expansion of this service is also convenient to retailers, allowing them to reach a new audience of typically millennial shoppers.

Braintree will now also accept Venmo as a payment form.

"Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device," Ready said.

In many instances, smartphone users will be presented with options to pay with either PayPal or Venmo, and can select either depending on which service they would rather use.

Andrew Clark is an IndyStar digital producer. Follow him on Twitter @Clarky_Tweets.